Ethereum Classic 51% Attacker Reportedly Returned $100,000 to Exchange

Ethereum Classic 51% Attacker Reportedly Returned $100,000 to Exchange

Cyber money exchange Gate.io has informed the general public about the return of previously stolen $100,000 worth Ethereum Classic units. According to the report, the 51% attacker transferred the funds back unexpectedly. It made the exchange suppose it wasn’t a black hacker.

The Story Behind The Return

As earlier confirmed by the exchange, on January 7 Gate.io experienced the ETC 51% attack during which 54,200 ETC in general (equal to $271,500 at the time) was stolen. As the analysis showcased, there were seven rollback transactions.

Four of them created the attacker. All the transactions were approved on the unaltered ledger of ETC and turned void after the ledger rollback. It is important to note that the details of the analysis were revealed only on January 9, a few days after the attach itself.

Interestingly, on January 8, one of the largest virtual money exchanges Coinbase independently stated that the general quantity of funds engaged in the deep chain reorganization was more than $1.1 million cyber coins.

Money’s Back

The money which was reportedly stolen from Gate.io during the hack attack was unexpectedly returned. The company noticed the return of the funds on January 10. In an official post, the exchange emphasized it received $100,000 back.

They also attempted to get in touch with the attacker, however, unsuccessfully. The reason for the return of money has still been unknown. Gate.io assumed, however, it could have been a white hacker who «stole» the cryptos in order to remind users what hazards exist in the realm of DLT.

It is interesting that recently the founder of Litecoin Charlie Lee stated that a genuinely decentralized digital coin must be amenable to 51% attacks.